Shell Starts Exploratory Drilling off Bulgaria
Royal Dutch Shell said on Tuesday it will start drilling an exploration well in a block off Bulgaria's Black Sea coast next month for oil and gas.Shell has teamed up with Spain's Repsol and Australia's Woodside Energy after sealing a contract with Bulgaria in 2016 for deepwater exploratory drilling as part of Sofia efforts to end its almost complete reliance on Russia's natural gas supplies. It is Shell's only upstream project in Bulgaria."With partners and with good data... we started preparation for drilling 18 months ago.
Shell Wins Offshore Bulgaria Exploration Deal
Bulgaria has picked Royal Dutch Shell to carry out deepwater oil and gas exploration off its Black Sea coast and plans to sign a contract by the end of October, hoping the project will help reduce its reliance on imports from Russia. The Balkan country, eager to reduce its near total dependence on Russian gas, had in April opened tenders for two offshore blocs, Silistar and Teres. Shell, the only bidder for a five-year exploration permit at Silistar…
Total Set for 2016 Bulgaria Offshore Drilling
French oil firm Total said on Monday it was on track to start drilling for oil and gas at an exploration site off Bulgaria's Black Sea coast early next year. Total, an operator of the offshore Han Asparuh 1-21 block along with OMV and Spain's Repsol, had postponed drilling there due to the fall in oil prices. "We are currently under preparation and we expect to begin in early 2016," Xavier Faugeras, general manager of Total's Bulgaria division, told Reuters.
Turkey to Allow Second Nuclear Plant
Turkey's parliament approved a law on Wednesday paving the way for the country's second nuclear power plant to be built by Japanese and French companies on the northern Black Sea coast. In May 2013, Japan's Mitsubishi Heavy Industries (MHE) , Itochu Corp. and France's GDF Suez agreed to build the plant at an estimated cost of $22 billion. Approval of the law, providing the legal basis for the construction, is a vital step in the process.
Total Delays Bulgaria Exploration, Cites Oil Price
Drilling for oil and gas at an exploration block off Bulgaria's Black Sea coast will be delayed by at least six months until early 2016 following the fall in global oil prices, French oil firm Total said. Total, operator of the offshore 1-21 Han Asparuh block, has cancelled tenders for drilling services in a decision agreed with its partners in the block, Austria's OMV and Spain's Repsol. "Due to the significant and incessant decline in the prices of oil globally in the past months ...
Verbund Sells Bulgarian Wind Farm
Verbund sold its Bulgarian wind farm to a unit of Bulgarian financial group Inovent Holding, the Austrian utility said on Thursday without disclosing the price. The sale of the 16-megawatt wind farm on the Black Sea coast is expected to be finalised by the end of this year, hydropower-focused Verbund said in an emailed statement. "With the sale of the Bulgarian wind farm Verbund takes another step to implement its strategy. By doing so, Verbund focuses further on its core markets Austria and Germany," it said.
